International Assets Investment Management LLC Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

International Assets Investment Management LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,447 shares of the bank’s stock, valued at approximately $26,176,000. International Assets Investment Management LLC owned 0.13% of First Citizens BancShares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC increased its stake in shares of First Citizens BancShares by 12.6% in the fourth quarter. Bleakley Financial Group LLC now owns 196 shares of the bank’s stock worth $278,000 after acquiring an additional 22 shares during the period. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at about $204,000. Nisa Investment Advisors LLC lifted its holdings in shares of First Citizens BancShares by 24.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,038 shares of the bank’s stock valued at $2,892,000 after buying an additional 405 shares during the period. Tritonpoint Wealth LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth about $284,000. Finally, Arizona State Retirement System grew its holdings in First Citizens BancShares by 0.7% during the fourth quarter. Arizona State Retirement System now owns 2,971 shares of the bank’s stock worth $4,216,000 after acquiring an additional 22 shares during the period. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 0.2 %

Shares of FCNCA opened at $1,710.00 on Friday. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,810.03. The firm has a market capitalization of $24.84 billion, a P/E ratio of 9.49 and a beta of 0.86. The firm has a 50-day moving average price of $1,600.68 and a 200 day moving average price of $1,491.56. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the purchase, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,388 shares of company stock valued at $1,825,220 and have sold 2,600 shares valued at $4,458,964. Corporate insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of analyst reports. UBS Group boosted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Barclays lifted their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. DA Davidson reissued a “neutral” rating and set a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Finally, The Goldman Sachs Group started coverage on First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $1,829.90.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.